Improving Access to Financing for African SMEs

BitPesa has partnered with Bitbond to improve access to financing for SMEs in Africa.

Bitbond, which is based in Berlin, Germany, connects fixed-income investors with small business owners who need loans. To make global cross-border lending possible, the platform uses the bitcoin blockchain for payment processing.

By working with BitPesa, borrowers who receive funding on Bitbond can now have their loan paid out directly to a mobile money or bank account. BitPesa pays local currency out to the borrower’s preferred payment option within minutes. The integration between Bitbond and BitPesa is now live in Kenya, Nigeria, Uganda and Tanzania.

Founder & CEO of Bitbond Radoslav Albrecht says: “10% of our global user base comes from Sub-Saharan Africa. We are excited to work with BitPesa in this region because there is a huge unmet demand for small business financing. Together with BitPesa, we can significantly improve our service. This means that a small business owner from Kenya can receive loan funding from investors from all over the world via Bitbond and have the funds paid out to his mobile money account in 20 minutes. This is an unprecedented level of innovation and convenience in the entire online lending space.”

BitPesa founder & CEO Elizabeth Rossiello says: “We are always excited to partner with companies that make doing business in Africa easier and more efficient. Our customers are businesses looking to grow across the continent and beyond. Better access to efficient financing is a tremendous way to boost their growth.”

BitPesa’s digital platform currently offers payments to, from, and within Nigeria, Kenya, Uganda, Tanzania, and the Democratic Republic of Congo. Going forward, the company will continue to open up major payment corridors to better serve the growing number of people doing business in Africa.

Apply for small business loans on Bitbond today.
Get started by registering for a free account on BitPesa.

Related Articles

Spirited Frontier Uses BitPesa to Pay Suppliers on Time

Oct 15, 2018 | Customer Success

According to a 2015 study by Accenture, Africa’s growth and attractiveness for business expansion and investment is unquestionable. However, Africa is a still a very complex market, and resource constraints make it difficult for many businesses to achieve profitability. Access to payments is one of the biggest challenges for a business that relies on supplies […]

How to Protect Yourself From Scammers

May 31, 2018 | Customer Success

The popularity of blockchain and cryptocurrencies, especially Bitcoin, is growing at an extremely fast pace in Africa. This exciting technology has a lot of potential for increasing access to finance and making it easier to do business across borders. But any success story can also attract bad actors. Just like the scammers that regularly show […]